Real Property Tax Exemptions

Because we represent several public bodies, we are required to render opinions on the tax status of land owned, leased, or sold by them on a routine basis. The tax exempt status of real property owned by most public bodies is a matter of state constitution. However, some public bodies such as public housing authorities form affiliate entities to pursue affordable housing development opportunities and the properties owned by these affiliates may also qualify for tax exempt status based upon their affiliation with the public housing authority or other statutory precedents if the project will be actually and exclusively occupied and used for charitable purposes, and the project will be owned by a nonprofit organization.

The Triangle Golf Challenge

In 2003, The Banks Foundation began holding annual golf tournaments to raise money for families who are moving from welfare to work and from public housing to private homeownership. The board approved an expansion of the Tournament to support other Triangle charities in 2013 and renamed the tournament as the Triangle Golf Challenge.